A large percentage of businesses fail due to financial mismanagement according to CPA Australia.  While some of these may have kept their records in a shoebox or didn't keep any at all, there are a range of options to improve the recording of financial transactions including excel, accounting software and online web-based bookkeeping software.  Hand written books are a thing of the past.  The best bookkeeping option for your business depends on the size of the business and its needs.

 

Whether a business is large or small, accurate financial information is critical to management, business performance and overall financial health.  Maintaining an accurate and up-to-date set of accounts means that owners and managers can make timely decisions, obtain funding or loans as needed and minimise accounting costs.

 

Good bookkeeping can provide a business owner with a wealth of information for planning and development, assisting with budgeting and cash flow forecasting. Forecasts will be more realistic if they can be compared to supporting actual monthly figures.

 

Keeping good books from the start, not only for tax purposes, is a record of the health and life of a business and can prepare the business for almost anything. This Canberra BusinessPoint Master Class will include foundations of good bookkeeping including:

• Source documents - processing sales and supplier invoices and payroll
• Bank reconciliations
• Financial statements - profit & loss and balance sheet
• Budget and cash flow forecasting including provision for tax
• Financial analysis including ratios and benchmarking
• Financial management including credit control, stock control and break-even point

This Master Class facilitated by Harry Hoang explores the bookkeeping options available to businesses for best practice including the pros and cons of online bookkeeping and will incorporate case studies and practical examples.

 

When

9:30 am for 10 am-12:00 noon, 20 November 2012

 

Where

Lighthouse Business Innovation Centre
Unit 6, 65 Tennant Street, Fyshwick ACT

 

Cost

$50, bookings essential at goodbookkeeping.eventbrite.com

 

 About the Presenter

Harry Hoang

Harry Hoang is the founder of Tailored Accounts, a Canberra practice employing the services of highly qualified accountants and maintaining up-to-date knowledge through industry recognised professional development and training.

Harry holds a Master of Professional Accounting and Bachelor of Economics from the Australian National University and a Bachelor of Business Administration from the National Economic University in Viet Nam.